Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.588

-1.6%

Dec 19 3:59 PM EST

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To: DMaA who wrote (375)	11/11/1997 5:28:00 PM
From: DMaA	Read Replies (1) of 22640

I did some searching and found this from Bank of New York: What are Depositary Receipts ? A Depositary Receipt is a negotiable certificate that usually represents a company's publicly traded equity or debt. Depositary Receipts are created when a broker purchases the company's shares on the home stock market and delivers those to the depositary's local custodian bank, which then instructs the depositary bank, such as The Bank of New York, to issue Depositary Receipts. Depositary Receipts may trade freely, just like any other security, either on an exchange or in the over-the-counter market and can be used to raise capital. Well this isn't publicly traded in Brazil, so where do the shares come from?

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